D Question 21 1.5 pts On June 1, 2020, Five company declared 10% stock dividend to all of shareholders of record as of June 30 and distributable on July 31. Fifth company bought 10,000 shares of Five company at P15 per share on June 20, 2020. This investment was sold on August 29 at P18 per share. How much is the gain/(loss) on sale of Fifth for the year 2020? 1.5 pts Question 22 On January 1, 2020, Sixth company purchased 25% of another company for P70,000 giving Sixth significant influence over the investee The acquisition cost is higher that the carrying value of the investee's net assets. The carrying value of the investee's assets and liabilities approximates their fair value except for an item of equipment whose carrying value exceeds the fair value by P10,000. The equipment has a remaining useful life of 5 years on the date of acquisition. For the year 2020, the investee reported a net income of P1.200,000 and declared P100.000 and P20,000 cash dividends to ordinary and preference shareholders, respectively, which were also paid in the same year. How much is the investment in associate account to be presented in Sixth's statement of financial position as of December 31, 2020